Seoul Considers Sanctions on North Korea Following US Crypto Crackdown

South Korea is contemplating a review of its sanctions on North Korea, in light of recent U.S. actions targeting the North’s cryptocurrency laundering operations. This comes after the U.S. Treasury imposed sanctions on eight North Korean individuals and two entities linked to cyberattacks and the financing of weapons programs. South Korean Vice Foreign Minister Kim Ji-na emphasized the need for coordination with the U.S. to address digital threats posed by North Korea, mentioning that the review of sanctions would be context-driven. The pressure follows revelations that North Korea has stolen approximately $2.84 billion in cryptocurrency since early 2024, with a significant portion stemming from notable hacks. Experts suggest that while additional sanctions from South Korea may align with U.S. measures, their impact might be limited given the long history of sanctions against the North.

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